With an estimated tax gap of some £36bn, Labour does seem to be taking enforcement seriously, writes Ross Birkbeck (Old Square Tax Chambers).
The logic seems strange to me: the Conservatives ‘steal’ Labour’s plans to abolish non-dom status and raise an extra few billion in tax revenue; so Labour are now short of cash for their plans and need to raise more. Why if the money is already raised by the previous government will they have to raise it again?
But I won’t quibble with the internal reasoning of political campaigns – Jeremy Hunt’s announcements in March forced Starmer’s team to answer once again the question ‘where will all that money come from now?’. The answer is the ever reliable ‘A crackdown on tax avoidance!’
It is a common refrain hailed by every government-to-be as both an easy way to balance the books and as a...
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With an estimated tax gap of some £36bn, Labour does seem to be taking enforcement seriously, writes Ross Birkbeck (Old Square Tax Chambers).
The logic seems strange to me: the Conservatives ‘steal’ Labour’s plans to abolish non-dom status and raise an extra few billion in tax revenue; so Labour are now short of cash for their plans and need to raise more. Why if the money is already raised by the previous government will they have to raise it again?
But I won’t quibble with the internal reasoning of political campaigns – Jeremy Hunt’s announcements in March forced Starmer’s team to answer once again the question ‘where will all that money come from now?’. The answer is the ever reliable ‘A crackdown on tax avoidance!’
It is a common refrain hailed by every government-to-be as both an easy way to balance the books and as a...
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
